Nationwide Fund Advisors boosted its stake in Meridian Bancorp, Inc. (NASDAQ:EBSB) by 52.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,142 shares of the savings and loans company’s stock after purchasing an additional 18,033 shares during the quarter. Nationwide Fund Advisors owned about 0.10% of Meridian Bancorp worth $972,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Bain Capital Public Equity Management LLC purchased a new stake in Meridian Bancorp in the 2nd quarter worth about $4,056,000. Dimensional Fund Advisors LP boosted its stake in shares of Meridian Bancorp by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,303,904 shares of the savings and loans company’s stock valued at $38,937,000 after purchasing an additional 164,391 shares in the last quarter. Marshall Wace North America L.P. bought a new position in shares of Meridian Bancorp during the second quarter valued at approximately $2,234,000. Renaissance Technologies LLC boosted its stake in shares of Meridian Bancorp by 5.8% during the second quarter. Renaissance Technologies LLC now owns 1,683,758 shares of the savings and loans company’s stock valued at $28,456,000 after purchasing an additional 91,700 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Meridian Bancorp by 2.8% during the second quarter. Vanguard Group Inc. now owns 2,154,791 shares of the savings and loans company’s stock valued at $36,415,000 after acquiring an additional 58,380 shares during the last quarter. Institutional investors and hedge funds own 66.13% of the company’s stock.
Meridian Bancorp, Inc. (EBSB) opened at $21.35 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.74. Meridian Bancorp, Inc. has a fifty-two week low of $15.85 and a fifty-two week high of $21.65. The stock has a market cap of $1,150.00, a price-to-earnings ratio of 24.83 and a beta of 0.64.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Tuesday, December 19th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.94%. The ex-dividend date was Monday, December 18th. This is a positive change from Meridian Bancorp’s previous quarterly dividend of $0.04. Meridian Bancorp’s dividend payout ratio (DPR) is currently 23.26%.
In related news, Director Marilyn A. Censullo sold 11,929 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $19.95, for a total transaction of $237,983.55. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard F. Fernandez sold 14,801 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $19.75, for a total transaction of $292,319.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,420 shares of company stock worth $826,454. 5.10% of the stock is owned by company insiders.
EBSB has been the subject of a number of analyst reports. BidaskClub cut shares of Meridian Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $24.50 price target on shares of Meridian Bancorp in a report on Friday, December 22nd.
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About Meridian Bancorp
Meridian Bancorp Inc, formerly Meridian Interstate Bancorp, Inc, is a mid-tier stock holding company of East Boston Savings Bank (the Bank). The Bank is a state-chartered stock savings bank that operates from 24 full-service locations and two loan centers in the Boston metropolitan area. East Boston Savings Bank operates eight of its full-service locations and a loan center under the name Mt.
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